Chase 1099 for referral & other bonuses: paperless, retention, etc [Consolidated]
Feb 20, 2019, 2:35 pm
#32
Join Date: Jun 2016
Programs: AS MVP Gold, Marriott Lifetime Gold, National Executive Elite
Posts: 247
I just called customer service and they admitted mistakes were made on their end and they'll send out a corrected form ASAP...so hopefully before mid April? It's pretty upsetting that Chase knows it made a mistake, but made no effort to notify their customers of this mistake. There are plenty of people who will file their taxes before the correction is received and will have to make the additional effort to file a correction.
Feb 21, 2019, 5:21 pm
#33
Join Date: Mar 2008
Location: HNL
Programs: HHonors, Hyatt, Alaska, American, United
Posts: 128
Chase 1099 MISC received, no activity to support it
I’ve received two 1099 MISC for $500 and $100, respectively. I have gone through a lot of blogs/threads, but have seen nothing resembling my issues, so I am adding this experience tothe mix. BTW, I have spoken with Chase customer service reps and even the 1099 reps, and it is indeed an endless loop of ignorance. EG, when I ask the 1099 rep to explain what the listed amounts are for, I will be told that they don’t have the records on my account and that I will have to talk to customer service. Customer service in turn knows zip and just wants to get rid of me, so they transfe me to the 1099 rep, who seems to be based in India. Of course,they know squat about US tax law.
So, the $500 “income” was from a Freedom Unlimited card. I got the card in August 2016 by downgrading a Sapphire Preferred card (to avoid the annual fee). I have never made any referrals or received any rewards. I transfer all points earned on this card to CSR.
The $100 was for a different Sapphire Preferred card that I closed about a year ago. I had it for less than a year and never used it after meeting the spending requirement for the 50K sign up bonus. The rep I spoke to told me (believe it or not!) that since the account was closed, they no longer had any records to provide, including any information on when the account was opened.
I did file a complaint with the CFPB on the $500 item. The bank’s response was very desultory, like an assembly line response. They claimed the $500 was for a “reward”. They provided no specifics, just an attachment of “terms and conditions.”
So, the $500 “income” was from a Freedom Unlimited card. I got the card in August 2016 by downgrading a Sapphire Preferred card (to avoid the annual fee). I have never made any referrals or received any rewards. I transfer all points earned on this card to CSR.
The $100 was for a different Sapphire Preferred card that I closed about a year ago. I had it for less than a year and never used it after meeting the spending requirement for the 50K sign up bonus. The rep I spoke to told me (believe it or not!) that since the account was closed, they no longer had any records to provide, including any information on when the account was opened.
I did file a complaint with the CFPB on the $500 item. The bank’s response was very desultory, like an assembly line response. They claimed the $500 was for a “reward”. They provided no specifics, just an attachment of “terms and conditions.”
Feb 21, 2019, 5:42 pm
#34
Join Date: Mar 2008
Location: HNL
Programs: HHonors, Hyatt, Alaska, American, United
Posts: 128
Puzzling. Neither of my 1099 MISC has any information of this kind. All it says is “other income” box 3.
Aug 13, 2019, 8:59 pm
#37
Join Date: Sep 2009
Posts: 2,824
Many of the travel blogs are covering this issue, so I will refer you there for the full story.
https://www.doctorofcredit.com/chase...d-filing-fees/
https://www.doctorofcredit.com/chase...d-filing-fees/
Dec 30, 2019, 11:18 am
#41
Join Date: Apr 2001
Location: Boston, MA
Programs: Hilton Gold, SPG Gold, CC Gold, UA Silver
Posts: 433
Any updates on this 1099. I finally had time to call Chase. I have Chase Ink card and was told that I was sent 1099 for $600 for redeeming Hyatt points from Ultimate Rewards points. Doesn't seem right. Any recourse to get the 1099 reversed?
Dec 30, 2019, 12:00 pm
#42
Suspended
Join Date: Aug 2010
Location: DCA
Programs: UA US CO AA DL FL
Posts: 50,262
If you do not act relatively immediately and Chase has already submitted the 1099 to IRS, you need a corrected 1099, e.g. one showing that it is "corrected" and for $0.
If the issuer will not cooperate or disagrees with you, you are left to prepare your return showing the Chase income at $0 and then providing a written explanation to the effect that you disagree with the specific 1099. Many suggest that this significantly enhances your audit risk, so you have to weigh the amounts involved against your audit concerns.
Dec 30, 2019, 12:36 pm
#43
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,949
Did you earn any UR points from banking or referrals in 2018? Even though the explanation is wrong, the 1099 may be correct. I would call again, and see if the same explanation is offered.
Nov 22, 2020, 12:51 pm
#44
Join Date: Apr 2007
Posts: 562
1099s from Chase for referrals
Keyword searched on these fora but didn't get (m)any relevant hits — however, I found a couple of websites which both seem to confirm that 1099s are not sent out for less than $600 and the first also indicates a 1cent/pt valuation. Based on what's below, should we be given to understand that a single (or even 2 or 3) referrals of 15,000 points which would be valued at $150 each for example will not trigger the 1099? All depends of their valuation I guess since if they go from 1cpt to 2cpt then anything more than 1 referral will trigger. Anyone got these in 2020 for less than 60,000 points in cumulative referrals? Thanks
One Mile... webpage
TPG... webpage
One Mile... webpage
TPG... webpage
Nov 22, 2020, 5:12 pm
#45
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,949
Last year's discussion: Chase 1099 for referral & other bonuses: paperless, retention, etc [Consolidated]
